How does late payement reflect on credit file please?

ferry

I made a late payment on my Tesco CC. This was its first payment and I forgot to set up a DD so was 1 day too late by the time I realised. My fault of course but I wonder how that will be recorded on my credit file and have I trashed it for another 6 years !

Thanks as usual
F

[Deleted User]

Lenders will regard it as a negative. But one late payment hardly trashes a credit file.

lala9

Do you mean you made your payment 1 day after the due date? If that is the case, it shouldn't appear on your report. I have made payments to my credit cards on a couple of occasions 1 or 2 days late and it does not get reported.

sheff6107

If it's a one off it'll take 6 months for it to be become just a 'historic' blip on your report. It's CCJs and defaults that can last for the six years.

marks87

I thought I'd use this thread instead of starting my own because my query is very similar.

I have a Virgin CC where the interest-free offer expired at the beginning of this month. There was a bout £100 left on it, which I paid off soon after payday and cancelled the direct debit at the bank (I'd had problems with negative credit card balances in the past and didn't want to overpay).

The next time I checked the account, I noticed that the £25 minimum payment had still been taken, but after my balance-clearing payment - leaving a balance of -£25. No worries, I thought, I'll easily clear that.

The next time I checked, however, I found the £25 had gone back and a £9 "failed payment charge" had been levied. After phoning them up, and eventually getting them to understand the absurdity of charging for a failed payment when no payment needed to be made, the £9 was refunded. Apparently I shouldn't have cancelled the direct debit at the bank (that they did attempt to take the £25 surely demonstrates I was correct in doing this).

Today, I got a letter informing me of the "failed payment charge". This got me wondering if it would impact on my credit score/file? Even if it ends up being "a historic blip" as described above, it would still irritate me to have it there when the card was paid off in-full before the payment due date, thus negating the need to try and take any payment.

TheShape

marks87 wrote: »

Apparently I shouldn't have cancelled the direct debit at the bank (that they did attempt to take the £25 surely demonstrates I was correct in doing this).

Today, I got a letter informing me of the "failed payment charge". This got me wondering if it would impact on my credit score/file? Even if it ends up being "a historic blip" as described above, it would still irritate me to have it there when the card was paid off in-full before the payment due date, thus negating the need to try and take any payment.

You'll almost certainly find that your terms and conditions on your Virgin Money CC state that payments to your account do not affect/reduce the direct debit that will be taken for that account.

YorkshireBoy

marks87 wrote: »

Today, I got a letter informing me of the "failed payment charge". This got me wondering if it would impact on my credit score/file? Even if it ends up being "a historic blip" as described above, it would still irritate me to have it there when the card was paid off in-full before the payment due date, thus negating the need to try and take any payment.

The CRA marker simply shows whether your payments are up to date. A '0' means up to date. A '1' denotes payments are up to one month in arrears. So you can stop worrying!

In future, you need to understand how your card provider treats payments made prior to the DD date. If you check your Virgin T&Cs and/or your original DDI set up confirmation (and maybe even your statement) you'll see Virgin told you there exactly what they'd do if you made a manual payment in addition to the auto-collect DD.

System

I used to pay my CC manually. I paid a few days late once and no late payment marker appeared. I don't think I'd be panicking.